Accel-KKR Launches $1.9 Billion Continuation Fund to Boost isolved's Growth and Expansion
Accel-KKR has recently announced the successful closure of its new continuation fund, named AKKR Isosceles CV LP, accumulating an impressive $1.9 billion. This fund aims to further the growth of isolved, a leader in human capital management (HCM) software and services. The strategic fund will not only facilitate investments in organic growth for isolved but will also allocate $350 million for potential accretive acquisitions, providing an additional boost to the company’s market presence.
Located in Menlo Park, California, Accel-KKR is a distinguished private equity firm dedicated to the technology sector. The new fund appeals to a broad base of institutional investors, with Goldman Sachs Alternatives serving as the lead investor. Participation from various other institutional investors underlines a strong confidence in the growth strategy outlined by Accel-KKR and isolved. This initiative is also tied to Accel-KKR's previous success with isolved, following a nearly 14-year relationship marked by notable revenue growth and profit increases.
Isolved, with its advanced HCM solutions, serves a large clientele, encompassing approximately 7.7 million employees across 189,000 employers nationwide. The partnership between Accel-KKR and isolved began in 2011 and has since yielded remarkable growth, enhancing isolved's revenue and profitability significantly. Since Accel-KKR's initial investment, isolved has expanded its offerings, supporting the entire employee lifecycle through innovative software solutions that streamline HR processes.
The completion of this continuity fund underscores the commitment of Accel-KKR to its portfolio companies, positioning itself as a partner that not only invests capital but also empowers firms to maximize their operational capabilities. Tom Barnds and Rob Palumbo, Co-Managing Partners at Accel-KKR, expressed their enthusiasm for this prolonged partnership, emphasizing that the new funding facilitates an expansion of isolved's vision and operational footprint.
Furthermore, isolved CEO Mark Duffell noted the exceptional nature of the partnership, reflecting on the brand’s ongoing evolution and future aspirations. As the market evolves, isolved aims to leverage the fresh capital for strategic growth and improved HCM solutions, meeting the demands of today’s workforce.
Dean Jacobson, Managing Director at Accel-KKR, reiterated the optimism shared among the leadership for isolved, foreseeing abundant opportunities for continued enhancement and innovation. With a strong commitment from the Accel-KKR team, isolved plans to refine existing offerings and introduce new services that will ensure productivity improvements for HR professionals nationwide.
Accel-KKR’s investments span across various companies, having acquired or invested in around 500 technology firms since 2000. Their history of raising significant funds showcases their capability and commitment to fostering growth within the technology sector. The firm prides itself on nurturing strong relationships between management teams, equipping them with the necessary tools and resources to thrive in a competitive market.
In summary, the successful closing of the $1.9 billion continuation fund marks a pivotal moment not only for Accel-KKR but also for isolved as it embarks on an exciting growth trajectory. With enhanced capital and strategic direction, isolved is poised to redefine the HR technology landscape in the coming years, further solidifying its position as a frontrunner in the industry. This collaborative effort stands to enhance the experience of HR, payroll, and benefits professionals, who are critical to the success of organizations across the nation.
Located in Menlo Park, California, Accel-KKR is a distinguished private equity firm dedicated to the technology sector. The new fund appeals to a broad base of institutional investors, with Goldman Sachs Alternatives serving as the lead investor. Participation from various other institutional investors underlines a strong confidence in the growth strategy outlined by Accel-KKR and isolved. This initiative is also tied to Accel-KKR's previous success with isolved, following a nearly 14-year relationship marked by notable revenue growth and profit increases.
Isolved, with its advanced HCM solutions, serves a large clientele, encompassing approximately 7.7 million employees across 189,000 employers nationwide. The partnership between Accel-KKR and isolved began in 2011 and has since yielded remarkable growth, enhancing isolved's revenue and profitability significantly. Since Accel-KKR's initial investment, isolved has expanded its offerings, supporting the entire employee lifecycle through innovative software solutions that streamline HR processes.
The completion of this continuity fund underscores the commitment of Accel-KKR to its portfolio companies, positioning itself as a partner that not only invests capital but also empowers firms to maximize their operational capabilities. Tom Barnds and Rob Palumbo, Co-Managing Partners at Accel-KKR, expressed their enthusiasm for this prolonged partnership, emphasizing that the new funding facilitates an expansion of isolved's vision and operational footprint.
Furthermore, isolved CEO Mark Duffell noted the exceptional nature of the partnership, reflecting on the brand’s ongoing evolution and future aspirations. As the market evolves, isolved aims to leverage the fresh capital for strategic growth and improved HCM solutions, meeting the demands of today’s workforce.
Dean Jacobson, Managing Director at Accel-KKR, reiterated the optimism shared among the leadership for isolved, foreseeing abundant opportunities for continued enhancement and innovation. With a strong commitment from the Accel-KKR team, isolved plans to refine existing offerings and introduce new services that will ensure productivity improvements for HR professionals nationwide.
Accel-KKR’s investments span across various companies, having acquired or invested in around 500 technology firms since 2000. Their history of raising significant funds showcases their capability and commitment to fostering growth within the technology sector. The firm prides itself on nurturing strong relationships between management teams, equipping them with the necessary tools and resources to thrive in a competitive market.
In summary, the successful closing of the $1.9 billion continuation fund marks a pivotal moment not only for Accel-KKR but also for isolved as it embarks on an exciting growth trajectory. With enhanced capital and strategic direction, isolved is poised to redefine the HR technology landscape in the coming years, further solidifying its position as a frontrunner in the industry. This collaborative effort stands to enhance the experience of HR, payroll, and benefits professionals, who are critical to the success of organizations across the nation.
Topics Financial Services & Investing）
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